Understanding 'true LTV'

Risk management is now top of the boardroom agenda for mortgage lenders across the globe. Mark Witherspoon of UKValuation explains why understanding the concept of 'true loan-to-value' is a key element of any lender's approach to risk management

It would be something of an understatement to say that the UK mortgage market has been going through a tough time in recent months. Mortgage professionals throughout the industry are beginning to face up to the fact that we are in the midst of full-scale slowdown. As the prospect of homeownership begins to recede for first-time buyers, and existing borrowers attempt to cling on to the property ladder - let alone climb it - it is worth remembering how we found ourselves in this precarious